My Financial goals for 2021.

in LeoFinance2 months ago

So this is what a Crypto Bull Run feels like...

My interest in crypto started during the last bull market run, the big pump to almost 20K BTC at the end of 2017. At the time, I was an interested bystander, and a no-coiner with little fiat to get involved. Eventually, I found a way in through mining, and by February 2018, my crypto journey began. Obviously, as we all know, a protracted bear market followed.

Something clicked with crypto, however, and I stuck around, finding STEEM at the time, which became my crypto home for a while. Buying crypto was not something I could really afford, but earning it was my foot in the door. The price, of STEEM, and the market in general, kept going down.

Finally, the worm has turned, and all charts in crypto are heading up. HIVE seems to love being $0.12 for now, but I think that will end, and HIVE will join the party at some stage.


Source: Pixabay

Enjoy the ride.

On to my 2021 financial goals. My first goal is to just enjoy the ride. I think this bull run has a long way to go, and that the rewards for the last few years of grind are on their way. Came for the money, stayed for the community has long been a mantra around HIVE. I think 2021 is going to be the year that both of these two will co-exist. The basic community of HIVE is strong (maybe smaller than we would like, but strong nonetheless). LeoFinance is a tight nit bunch of like minded individuals. It is going to be a fun ride as we watch the next generation of no-coiners convert to crypto, and come along for the ride.

My first goal for 2021 (not really a financial goal, but sort of) is to enjoy the ride.

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Build for the future.

I'm turning 45 soon, and working in the fiat job to pay the fiat bills is no fun. I think it has been more bearable for me lately having a growing confidence that my way out, the financial escape plan is forming up nicely. I have no intentions of working another 20 years, to retire at 65. That sounds like crap, and I am planning on bringing that forward dramatically via crypto.

So here is the plan - weekly DCA buy-ins to crypto of BTC and ETH. Once It becomes available, pool my BTC and ETH with RUNE on Thorchain. As soon as we can push for a WLEO/RUNE pool also. By the end of 2021 I am pretty sure my crypto portfolio will be mainly my HIVE assets, and these three pools on Thorchain.

When the SPEAK token economy and platform is unleashed by @theycallmedan and team, I plan to get heavily involved from the start. I am by no means a video content creator, but mining and building the network is definitely something I can do. The token economy looks good to me, and like something I will be able to do well in.

LeoFinance is my crypto home now, and I plan to keep growing here. I have put a lot of my LEO into LBI, so I have to work hard to re-build my direct holdings of LEO, especially now that it is steadily growing in value and harder to buy in to. I'm also hanging for the micro-blogging, and the side chain stuff with governance and witnesses and so-on is something I'd love to get involved in.

My second goal for 2021 is to build assets with a 5 year horizon to position for early retirement from my fiat job.

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FIAT debt free.

A huge thing for me will be hitting the point of being completely debt free in my fiat finances. I am already close, compared to where I was a year or two ago. Over 2020, when many were having a crap year, financially I was having the time of my life. My employer was found to have been underpaying it's salaried managers for many years, and started remediation by calculating and baying back pay. I have been entitled and received a decent amount here, and have been able to upgrade some of our things around the house, and pay down debts. Just yesterday, I paid my car finance off 3 years early, and along with finalizing some other small consumer debts and things, have freed up a decent amount of weekly cash that was going to servicing debt.

I'm down to just the credit card. Everything else is paid off, and the credit card will not be challenging to clear. We don't own a house at this stage, so once the credit card is zeroed, I will be completely debt free for the first time in my adult life. Can't wait to see what that feels like, after many years of living pay-to-pay, week-to-week.

My third financial goal for 2021 is to clear the last of my fiat debt, and enjoy a debt free life for a while.

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In summary...

To sumarize, I'll answer the questions in the original post by theycallmedan.

Which is going to be your investment strategy for 2021?

  • Weekly fiat to BTC and ETH buy-ins.
  • Pool with RUNE and BTC/ETH/WLEO on Thorchain.
  • Continue to build LEO, HIVE and 3Speak income flows.

Do you have any specific assets that you want to invest in?

  • The above will be my core portfolio. I may put some play money in other projects here and there, but RUNE, BTC, ETH, HIVE, LEO and SPEAK are my priorities.

Preferred Investment? Crypto, Real State, Commodities, Stocks?

  • Crypto for sure. I'd like to own property, but it probably won't happen this year. I have the ability to actively manage some of my superannuation fund, and that satisfies my interest in stocks for now.

Do you have a plan or a set of goals on how to use and grow your stake?

  • Post more consistently.
  • Continue to prioritise outward facing content as much as possible - particularly on LeoFinance.
  • Compound.
  • "Mining" or running node on SPEAK, and LeoFinance if I can get my head around the technical requirements.

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Price predictions:

  • HIVE - $2
  • LEO - $10
  • BTC - $100,000
  • ETH - $10,000
  • RUNE - $100

My insanely bullish targets are not necessarily year end targets, just some time along the way. Not great at timing or reading market tops, but I think there are some massive gains still to come.

Most bullish on RUNE of any crypto currently in existence. $100 RUNE could be a lowball if the platform does become a liquidity black hole.

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Thanks for reading, here's to a great 2021 for everyone.

Cheers,

JK.

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Everything crypto related sounds great. Need your price predictions to come true ;) good luck in 2021.

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It'd be nice. But I am bad at price predictions, so I wouldn't rely on my targets.

Here's hoping.

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10$ LEO doesn't even look that hard to reach.

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It only really puts LEO at a $60 mill market cap roughly. Not that big in the grand scheme of things. Many crypto projects with nothing really happening have higher valuations than that.

2021 is going to be a fun ride.

Thanks for your comment.

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It's starting nicely!

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Really well thought out and defined goals. I have a tiny amount of btc and don't feel like trading is my strength so I will be growing with Leo and Hive by proxy but I have almost fully converted to Leo. The Rune stuff sounds interesting and I need to research it.

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Definitely recommend diving down the Thorchain rabbit hole when you can. It's a lot to learn, but once it clicks in your head, it just feels like what the DeFi landscape should look like.

I've learnt the hard way that I'm definitely not a trader, just a grind and accumulate specialist.

Thanks for reading and commenting.

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i can't even really get the whole defi thing. I mean I get the appeal but not how so many projects get funding and could possibly succeed.

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A huge thing for me will be hitting the point of being completely debt free in my fiat finances.

I can relate to this

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I think the last time I was completely debt free was around 30 years ago, as a teenager. It's going to be a surreal feeling, but I can't wait to see what it is like.

Then I'll be able to build up my assets and plan for the future.

Thanks as always for your support and encouragement.

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It's going to be a surreal feeling, but I can't wait to see what it is like.

Remember, Money solves only money problems and our mind and our beliefs solves all the problems.

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Fiat debt free is the ultimate goal.

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I also fully identify myself. My consumer dream.

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I like your predictions and agree with them and the sentiment, they don't have to make it there this year, as long as they eventually make it.

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I'm pretty optimistic for this year for crypto at least. You're right, even if they are too optimistic for this year, it'll happen eventually.

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Massive Goals I like, I also enjoy the Fiat debt free.

Bullish to the max.
HIVE - $2 - damn
LEO - $10 - damnmmmmmm
BTC - $100,000 - dammmmm
ETH - $10,000 - damnmm
RUNE - $100 - nooooo!!! dammmmm

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A bit of wishful thinking perhaps. If I get even one of these right, I'll be happy. BTC is the obvious choice as most likely, but time will tell.

Debt free is going to be sooooooo exciting, I can't wait.

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One of the challenge report I enjoyed the most reading, maybe because I can relate to how you fell into the crypto world ;)
Bullish on your predictions ? Well everyday is bringing ATH, nobody knows how high this run will go.

I’ve been digging a bit on Rune, did you try bepswap by any chance ?
It’s not a recommendation but more a hope that you could help me to figure it out :D

I wish you can checked all your goals mate !

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For Bepswap, check out this post I made a few months ago. Hope it help's, hit me up if you have any more questions. Once Thorchain move to multichain (hopefully later this month or early Feb) Bepswap will phase out and Asgardex will take over, along with a browser extension called XDEFI. Once these new services come out, I'll create some new guides and walkthroughs.

Glad you enjoyed the post and could relate, I think lots of us had a similar experience of stumbling in and figuring out how to find our space in crypto.

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Thanks a lot for the links !
Actually when I connect my Trust wallet to BEPswap, it can't see my tokens and it displays "LOOKS LIKE YOU DON'T HAVE ANYTHING IN YOUR WALLET". I might better wait for Asgardex then.

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Me encanto tu publicación, ver como hablas con pasión y fe de las criptomonedas me anima a investigar, espero en algún momento poder invertir en ellas.

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Stick around, hopefully getting involved in HIVE and LEO can help your situation. I really hope that 2021 is a better year for the people of your country.

los mejores deseos para el año que viene

I hope that makes sense, I'm relying on google translate.

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The same goes for you.

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I have nothing but to sympathize with yourself. In Venezuela we actually live off crypto. I'm really glad you're clear and focused with what you want, hopefully we will be fiat free in the near future. Feel free to visit my Financial goals as well. Best Regards!

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It must be an interesting thing to see many people setting their lofty goals for the year ahead, when in your country the main goals would be to be able to put food on the table, and buy medicine if needed, and just survive.

I really hope that crypto in general, and HIVE in particular can make a difference in many Venezuelan lives.

Best wishes for 2021.

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Interesting post and I so much wish you a debt free life!

And again that Rune, I still don't own 1 Rune myself, and have to see IF and HOW I will be able to get some along the way while it is 'early stage'. Thank you for shining your light on that again.

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Once multichain is launched by the Thorchain team, it will be so much easier to get RUNE. I think it will be more expensive, and now if you can work it out is a better entry price, but early on in multichain will be much easier. Rest assured, I'll keep posting Thorchain updates along the way, and have walkthrough posts when new options are launched.

The debt free dream is close, I can't wait.

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That's great you have the car paid off.

It was a big thing to be able to pay it off early. Freed up 80 bucks in the budget also, which can go to clearing the credit card and then I'm debt free.

How have you been mate? long time no chat.

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yeah enjoy the ride.for me i think the dogecoin would be the best crypto to invest to. elon musk knw that..

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I like to pick my crypto projects based on how strong the mascot is. Leofinance is obviously a Lion, the king of the jungle. Rune is Thor, the almighty hammer wielding God. Doge, is that cute, fluffy dog. Nice and all, but, it aint no God or Lion.

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Congrats on (almost) being debt free. It’s an amazing feeling. I’m in a similar position despite my incredibly large mortgage.

I’m so glad to see you still posting on Hive/Leofinance. I’ve always lingered but have just started to work on growing my account again.

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G'day mate, long time no chat. I'm almost exclusively on Leo these days, found my niche where I really feel at home.

The mortgage and home ownership is something that has eluded me in life. Now being nearly debt free, I'm not sure if I should finally dive in, or just focus on building investments, and enjoy being able to ring the landlord when something goes wrong and let them worry about fixing it. In an ideal world, I guess the dream is to keep building up crypto assets to a point where I can buy a property outright in a few years without selling my soul to the banks. Wishful thinking likely, but you never know.

Good to see you still around, chat soon mate.

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I’ve always felt more comfortable owning the home I live in. But there are arguments for and against home ownership. It‘s personal preference really.

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Excellent goals
I very much hope your predictions come true
I had never heard of RUNE and you intrigued me
!BEER

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I hope so also, they are possibly more wishful thinking than realistic predictions, but we will see.

Definitely recommend learning more about RUNE, scroll back through my blog, or Khal's and check some of our posts out as a starting point.

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It is much better to think about our investments without having to worry about credit card debt, or even a house or car.

It's great to see that your goal is to retire much faster with the help of cryptocurrencies and as I believe in them too, I know that your retirement will come much faster!

Success on your journey!

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Thanks, It is exciting to look at what life without debt will be like - all that money that was going to pay the banks and finance companies will be available for more interesting things.

Success for your journey also mate.

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Awesome goals and best of luck achieving them.

Oh, and Hive at 2$ and Leo at 10$ would be a dream come true lol. But everything is possible in crypto so...let's go!!

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Thank you, I hope we can all hit our goals this year.

Hopeful targets, no doubt, but even if we get part way there, we are heading in the right direction.

Thanks for your comment.

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Your expectations about this year's coin prices are what we all really want, although in my predictions I was a little more conservative.
It is a very good publication and as you said, together we will enjoy this trip that 2021 proposes.

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I was in a very optimistic mood when I made this post, conservative targets are much more realistic. I do think as least 1 of these will come true, maybe more.

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toruk_washere_new3leo.jpg

More info why you see this here.

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siked on rune as well here. I always find it interesting how it is so normal in the US to have so many debts on cars and creditcards and so. That really does make you a slave for your fiat drained into anywhere, so be glad you are getting rid of it dude!

Kudos for the predictions and keep on marching!

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It's the same here in Australia, so many people become trapped in the debt spiral, and end up slaves for life to the finance companies and banks. Been there, done that, and so excited to have nearly clawed my way completely out of that mess. Just the credit card left and I'm free.

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I love the way you have set out and described your goals here. It's clear, descriptive, and to the point. When reading your goals...it just makes sense.

I'm glad to hear that you've had a good fiat year in 2020, may your crypto year in 2021 be great!

I almost feel guilty sometimes saying that 2020 was a great year for me, when so many had a different experience, and for so many people 2020 was a massive setback. I can assure you however that there were many years of grind to get to that point however.

Lets hope 2021 is better for everyone.

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I wish you accomplish all your goals!

Debt free looks to me like the most urgent goal for all people to achieve.

And early retirement sounds good too.

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Yeah, when I added up how much was going out each week to all the different finance and loans, it was frustrating. Having had the opportunity to clear most of that has been a weight off my shoulders, to be sure.

Best wishes for you in 2021.

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Enlightening post for even a newbie. I do hope your financial goals are achieved

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Glad you enjoyed it, best wishes to you for 2021.

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well if you were able to live ok while paying the debts why not take 80% of the same amount to invest instead of paying debts...

imagine the long term gains from that. congratz on being debt free

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Some of that money is being diverted into investments. I can't say it is 80%, as we were scrapping by and some of the debt came from struggling to cover everything every week, the classic debt trap. It's a vastly different feeling to be looking at what I can put that money into, as opposed to which bills to pay.

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Great post with the clear cut goals in mind.

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Thank you, glad you enjoyed it.

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nice perspective!

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Thank you, glad you enjoyed my post.

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That is the same of my goal fiat debt free. It is very hard in life to have debt.

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It's quite a trap to fall into debt, easy to get caught, hard to escape.

Best wishes with your goals.

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That's great, @jk6276.

Good luck with your goals.

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Thank you, I hope you can achieve yours this year also.

Best wishes.

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Like your friend, debt is the only thing in my adult life.

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It can be such a burden to carry around. It's how the system keeps us as financial slaves, and the rich on top of the system benefit.

I hope many of us can escape this trap through crypto.

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I find your predictions interesting, I bet more that this year in hive we can arrive and stay at 1 usd. my goal this year is to have a large capital invested in crypto

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My predictions are very optimistic, I'll be delighted if any of them come true. $1 HIVE would be a very nice outcome for many of us.

Best of luck in pursuing your goals.

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It is really a nice read. Well formatted.
Great that you have had that financial leverage in 2020. I am also planning to DCA my way into BTC and ETH. Good luck with running the nodes :)

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Thanks.

Yeah, I've been real lucky over the last year or so, but it was many many years in the making.

As for the nodes, it's going to be interesting to get my head around - just waiting for more details to come out from 3speak, and waiting on @khaleelkazi's 50 million word post.

Thanks for the comment.

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HIVE 2$ ? I would be so happy . On the other hand , LEO reaching 10$ doesn't look such a uphill task when compared to HIVE reaching 2$.

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I wouldn't trust my price targets, definitely not financial advice. But I'm bullish so we shall see. I think HIVE is in for a good year.

$10 LEO sets a lot of us up for a very comfortable future, nuts there is lots of work needed to get there.

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Great financial goals and am looking to see where it all goes this year. LBI and some other investments look very promising.

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Very happy I jumped in and gathered my LBI stash early. Looking forward to watching the potential of LBI start to materialize this year.

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On you on that SPI is gold no reason LBI won't do better.

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Hey @jk6276, here is a little bit of BEER from @libertycrypto27 for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

Wow, backpay? Awesome. That's what we call 'magic money' here - money you didn't really know was coming! Suprise windfalls.

I kept buying BTC paycheckly for about 2 years, listening to Hive BTC hodlers - pleased I did now - it wom't make me a millionaire but it will help us out some. If I cashed out now I could buy a camper for the back of our 130 Defender, but I don't want to yet - have FOMO it'll go to 100k. Is that greedy? Such a hard thing to wrap my head around - the waiting, especially if - when - there is a correction.

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I always felt that they were underpaying us, but being on salary at the time meant your had "sold your soul". Turns out to have been 10 years of underpayment, and costing the company hundreds of millions. They can afford it. I probably have a bit more coming in time.

I definitely agree that building up crypto assets is the ultimate savings plan. My focus this year is going to be to shift a little more towards more liquid options, instead of having it all tied up in staking. I'm loving the Liquidity pools - access in case of emergencies, income in the meantime.

A camper does sound nice. Everything is a trade off.

Nice to see you again, we haven't chatted for a while.

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No, we haven't!

Great to hear things are going well. BTC is doing my head in, It's so hard to play long game.

I loved reading your publication, actually I consider myself a non-coiner, I don't have to actively invest in Leo, but I already have a plan to start my Leo journey, and your goals I loved, reading these publications give me every day a push to fully enter this world, but while that happens, people like you with these good publications teach me to understand a little more about cryptoactives, I hope your goals are fulfilled. Mine are already taking shape.

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It's a great place to learn, and absorb what is out there. There is plenty of inspiration to be found, and it always feels like an accomplishment to dig into a specific area and learn something new.

Best wishes for your year and achieving your goals, thanks for the comment.

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I'm turning 45 soon, and working in a fiat job to pay the fiat bills is no fun. I think it has been more bearable for me lately having growing confidence that my way out, the financial escape plan is forming up nicely

this is true and I think that it applies to many of us. After some point in time, we don't feel like doing a job instead of looking for another thing.
Also, life without debt is good and I am sure you will be able to achieve it soon.

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Tired of working to make other people money, and earn just enough to scrape by. Fortunately, there is a better way. I think 5 year will be good, my kids will be old enough that they won't be as reliant, and we'll still be young enough to have time to do things we want to do, instead of doing things we have to do.

Can't wait to hit "debt free" status this year.

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Interesting, I also really look forward to the ride. I was joining right before the rise in summer 2017 and now I am back for the next bull run :D

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The last couple years have been interesting, certainly questioned at times if it was all worth staying involved. But here we are, I think (despite the current dip) we are generally on the way up and looking at better days ahead.

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yeah I think 2021 is gonna be an upwards rollercoaster.

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such an inspiring story. I wish you the best and please don't forget to post your testimony once you are debt free so we can celebrate.

Cheers man!!

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I'll be making some noise, can't wait till that last credit card is cleared. I could do it now, but I'd have to sell some crypto, and that's not something I want to do right now.

Glad you liked the post.

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I love the cryptographic projects you mention and it's the best thing you can do to ensure a pleasant retirement. Greetings.

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Thank you, there is plenty around to get excited about. Looking forward to being free from the daily grind.

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Rune is a good project, I have added liquidity and participated in your event and I have won, Rune has grown a lot like the rest but of course it is personal criteria, but I see a lot of potential in RUNE, a good project.

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It is, I think, a very promising project. The next few months should be full of exciting developments.

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Cool goals!
Being fiat debt free is amazing. I'm far from it, because I have debt for real estate, which is still a good debt for the moment, but it keeps me tight to my job that is the downside to it. Else every debt is bad.

Crypto shall pe the main powerhouse for everyone in here for the next year!

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The property (and associated mortgage) is something that I think I have missed the boat on. It is good debt compared to everything else, but at this point in life, signing a 20 - 30 year mortgage is probably not the best move. Best just work on becoming crypto-rich and eventually buying a place outright. Haha, now that would be a dream come true.

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"My second goal for 2021 is to build assets with a 5 year horizon to position for early retirement from my fiat job."

So what would be your ideal portfolio for 2026 if you could assemble it today? :)

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Moy core will be RUNE, BTC, ETH, LEO, HIVE. Other than that, I consider myself a bit of an opportunist investor so I'll see what comes along. 5 years is an eternity in crypto, there are plenty of opportunities that will come along in that time-frame that have not even been thought of yet.

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Excelente tu experiencia y aprender de ellas. Exitos.

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